Top Lessons of 2021
A former colleague of mine, Mike Antonelli, who is the Market Strategist at Baird, recently shared some of his top lessons from 2021. There were three that I thought were particularly relevant given the current market and political environments we find ourselves in. I hope you enjoy them as much as I did.
1. The price we paid to avoid a potential economic catastrophe was high inflation.
It stinks, it hits us all, it has become a political anchor for many, but in the end, it is better than the alternative which may have been economic collapse.
2. This is not the “worst time in history” or “as bad as you’ve ever seen it”, it is just normal history. The world is a surprising place, there is no state of “calm”. The news you are seeing is no scarier than the Cuban Missile Crisis or the Halifax Explosion.
3. There are no market experts you should hold on a pedestal. NONE! ZERO!
People who are on TV all the time, or in the newspaper, or are held up as “legends” don’t know any more about where the market is going than you do. You are just as smart and you can do just as well. It all comes down to having a plan and your behavior.
P.S. Yes, I had to Google the Halifax Explosion, too.